looking forward to its qr. let's share opinions again after qr is out. as is, ucrest net margin is 2nd highest compared to its peers within the same industry. when you compare overall fundamentals, ucrest ranked highest imo. things may change but will wait for it's qr first to decide.

I had a look at it's latest qr. trade receivables of $19M which is the highest in recent years. it can indicate potential trend in future revenue (+ve impact) or extending credit terms to customer (- ve impact). Just my opinion - I am using day sales outstanding (DSO) trend to gauge how well it's software is doing in the market. a rising dso trend may signal it's software is not as popular as it used to be.

2017 dso trend came down significantly until 2018. fiscal year ends at May. the DSO came down from 1100 days prior to 2017 to approx 170 days in 2017 to approx 28 days in 2018. based on it's latest q4 report cumulative figures, the dso trend went up to 188 days for 2019. these are just my own calculations and maybe wrong. as it's not meeting my own expectations in terms of dso trend, I will sell my shares (avg at 0.20 cents). my decision to sell could be wrong and it's purely my own opinions.

hi Matthew, rising dso trend to me indicates that imedic platform customer install base is not growing fast enough. Hence, resulted in shortfalls of new revenues. the formula for dso - accounts receivables / ( revenue / # of days in reporting period). it's normal for software companies to get upfront payment for consultation/setup and hence, you see it in accounts receivables. once work done, it should also start to generate revenue. So, dso trend should be constant or coming down healthily.

based on the dso formula, rising dso trend means receivables go up but revenue goes down. Rising receivables can also mean higher backlog of orders (+ ve) or extending credit lines to customer (- ve). I prefer to think it as new customer install base not growing fast enough. these are just my opinions and could be wrong. what do you think of it's latest report?

Hi Cheng. I thought new license or renewals would be reflected in revenue and actual collection of money is reflected in receivables. Secondly, I concur with your suggestion that the platform is not growing fast enough as reflected in past 4 qtr revenue. After they completed their Russian job, I don't see them being able to sell their license elsewhere

hi Kok Shen, yes it is but at a later stage. initial setup planning/setup comes in first and once completed - license/renewals will be reflected in revenue. lack of revenues and customer base at the back of higher receivables makes it less attractive.